Bankruptcy to get my life back together ?

DSushee_2

Firstly id like to say I’ve been lurking for a while and its time to come clean. I have to say thank you in advance as reading your advice, support etc etc has made me feel I can post this and finally start to live again but I still need some help.

Basically I think I NEED to go bankrupt and here's why.. I’m now 32 and I was originally made redundant at 28 with the stress of owing so much money I just couldn't cope and I went away for a year just giving up everything... I've been back about two years and I "think" I owe about £30k but I'm too scared to actually contact anyone as if they find me then my life will be back in tatters..

Here’s what I think there is :

Credit Cards - £15k
Bank Account - £3k
Bits of Credit - £3k
Loans - £10k


I no longer have a bank account and I have survived doing work and having the money paid into my ever supportive girlfriends account, but now we really need to start moving on with our lives.. I'm currently not working and this is partly because I'm so depressed at being found and having all the letters, phone calls and door knocking again. I am more than skilled to get and hold a job it's just fear stopping me ( i'm also not claiming off the state ) .

I 'think' the only way to get myself back on track is to go bankrupt, this way I can then come clean, get working again and pay x amount out that I'm told too, however I own nothing and there isn't anything to take. I also no longer know who I owe what too. I got an Equifax report and there was just so much on there that’s why I 'think' it comes to £30k..

So my question is I go to the courts and say what.. I’m not working , I have no money and I’m so afraid to work it's depressing me to a point I’m useless..

What then happens. I understand I fill out papers ( but i dont know anymore who i woe and how much ) and maybe see an adductor ( or something ) , and from my point that protects me so I can go to work without the fear of being hunted down like scum. Obviously the more I earn I’ll pay but does this mean in a year they cant hassle me anymore ?

I was told by a debt agency that if no contact is made for 6 years the debt is quashed, but ive already spent three years hiding and I feel awful to the point I’m afraid to answer the phone..

I really didn't mean to end up in this situation, but when it hit, it hit hard and I just buried my head. Some people seem to think people engineer a situation like this but sometimes it just racks up by "accident' and then all comes down when you live upto 100% of your means .

One thing I do wish to say is that when I realized I was in trouble and tried to solve this the ONLY people who were willing to try and help were First Direct .. They were FANTASTIC but eventually I even fell too much behind for them.

Words of wisdom please.

dancingfairy

How would you feel if you went bankrupt? would you feel bad for not paying everyone back what you owe? I'm not trying to say it isn't the right option just trying to make sure you think through all the angles.

If the thought of all that debt is making you ill and stopping you working then maybe bankruptcy is the answer.

Perhaps the CCS / CAB etc could help and advise you although I'm sure there are loads of people on here who will give you their advice.

Have you checked out the thread about the bankruptcy club? maybe you could pm some of them and ask their advice?

Whatever you decide, good luck with it all and remember whichever there are lots of people on here who have been in similar/are in similar positions.

earwig

hi phone cccs or payplan they are good at given adivce you will need to know all your debt as any what not listed will not be included in your bankrupctyt dont worry its not that scarry you will need to have around 4 to 5 hundred pounds to go bankrupt unless you claim benefits then it a smaller rate or try your local citzen adivce center if you want to talk to some one face to face

Dolly_Smith

I know it's hard but it you have skills you need to get money coming in by trying to find a job. You'll find that it will do wonders for your confidence and will even help your depression. You're probably feeling it at the moment because you're not in control

you need to find out what you owe, because only then can you deal with it and stop it hanging over your head

Biffa

Have just PM'd you, hope it helps.